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Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
 On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, which comes at a time that the realm faces a fall in energy revenues. Furthermore, last month the Kingdom reported the already premeditated economic reforms to decrease its reliance on oil and develop a long-term sustainable expansion, with arrangements for a monstrous $2 trillion fund to lift its worldwide investment power plan.
Particularly, the implementation of the named “Vision 2030” plan visualizes the country to operate without its major dependence on oil income by 2030. As announced, the plan encompasses the expansion of the realm’s tourism industry, developing the capacity of its military industries, reducing sponsorships to save money, generating job initiatives while restructuring its education system and establishing a Green Card-style residency system for Arabs.
Moreover, the setting up of the Public Investment fund of $2 trillion includes the $100bn that are expected to be raised from Saudi Aramco’s Initial Public Offering (the biggest IPO in history), with Prince Mohammed Bin Salman stating that the Saudi addiction to oil has disrupted the development of many sectors in previous years. As a result, the Kingdom aims to gain exposure to international markets and thus attract investments in all aspects of its economy with greater transparency.
Saudi Arabia’s new vision 2030, being ambitious and comprising of diversified policies reflects a long term initiative for economic progresses that have gained grounds from low oil prices and new-generation leadership. Gulf countries have been developing similar policies for years with Bahrain publishing its vision 2030 in 2008 and Abu Dhabi issuing one in 2009, both led by princes who wanted to associate themselves with economic transformation and collective consciousness. The April’s meeting and discussion of oil-rich countries in Doha for a production freeze in order to boost oil prices, led to no-agreement as Iran declared an increase on its output. Alongside, it was just about a year and a half ago that Ali-al-Naimi urged OPEC to maintain output, rather than reduce production and support oil prices. Effectively higher cost producers were squeezed, mainly shale oil drillers. Similarly, Saudi Arabia itself has suffered an incredible loss by foreign-exchange reserves dropping and economic growth slowing.
Inevitably, the above measures will likely lead to the most radical transformation of the kingdom since its establishment in 1932. The plan itself is the evidence of the seriousness with which the authorities are taking the effects of squeezed oil prices on the economy and consequently the socio-political impact that has shaped the state-society relations. The world’s energy map is being revamped as global growth slows down. Iran’s reintegration is shifting the regional strategic dynamics. Saudi Arabia, long familiar to being the leading player in the area, must adapt to these changes.
Consequently, the Kingdom’s strong presence in crude oil and oil product markets affects the demand for oil tankers, the world’s primary oil transportation. Therefore, “Vision 2030”, which aims at less dependence on petrodollar income and further diversified domestic and global investments, may be the result of possible pessimistic expectations about further oil-driven world growth and it could even be the signal for even lower oil prices in the future. What would be the effects on the notoriously volatile shipping industry? It remains to be seen.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
Friday, 06 May 16
U.S. WEEKLY COAL PRODUCTION UP 9 PERCENT W/W; DOWN 35.3 PERCENT Y/Y - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million short to ...
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- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
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